1. Suspension mechanism of convertible bonds in Shanghai Stock Exchange: when the price rises or falls by 20%, the stock will be suspended for 30 minutes; If the price rises or falls by more than 30%, the stock will be suspended to14: 57; If the suspension time exceeds 14: 57, the stock will resume trading automatically. Trading is not allowed during the suspension period.
2. Suspension mechanism of Shenzhen convertible bonds: when the price rises or falls by 20%, it will be suspended for 30 minutes; If the price rises or falls by more than 30%, the suspension will be suspended for 30 minutes; If the suspension time exceeds 14: 57, the trading will be resumed automatically. Trading is not allowed during the suspension period.
Subscribing for new bonds refers to subscribing for convertible bonds or exchangeable bonds issued by listed companies. Subscribing for new bonds generally refers to subscribing for convertible bonds or exchangeable bonds issued by listed companies. Convertible bonds are called convertible corporate bonds. Like other bonds, convertible bonds have stipulated interest rates and maturities, but unlike ordinary bonds, convertible bonds can be converted into stocks under certain conditions.
Stock daily limit refers to the daily limit of each stock in order to reduce speculation in stock market trading. As far as the China stock market is concerned, the price limit of each trading day is 10%, and the daily limit of 10% is the daily limit, and it can't go up again that day.
For the special treatment of ST shares, the daily limit can only rise by 5%. All price rises and falls are determined by the market value of the stock (that is, the expected return and corresponding risks of the stock) and are affected by the relationship between supply and demand.
From the perspective of buyers and sellers, when the buyer's power is greater than the seller's power, that is, the number of people who think that the future stock market is worth investing is greater than those who are bearish on the market outlook, the demand will exceed the supply, and most people are willing to buy stocks at a price higher than the current price, and the price of individual stocks will rise, driving the stock market index to rise, thus creating a bull market.
On the contrary, when people who are bearish on the market outlook are greater than those who are optimistic about the market outlook, some people sell stocks at low prices, and the decline in individual stock prices drives the stock market index to fall. Generally speaking, changes in the strength of buyers and sellers are related to macroeconomic trends. If the macro economy slows down, investors will sell stocks if they are pessimistic about the future economic trend, and hold stocks instead. Therefore, the stock market can reflect the economic trend in advance and is a barometer of the macro-economy.
The price limit system originated from the early foreign securities market. In order to prevent the price from soaring and plunging, curb excessive speculation and appropriately limit the price fluctuation of each stock on the same day, it is a trading system in the securities market. That is to say, the maximum fluctuation range of the trading price in a trading day is a few percent above and below the closing price of the previous trading day, and trading will stop after it exceeds.
The current price limit system of China's securities market was promulgated on February 2003 1996 13, and implemented on February 26, 2006, aiming at protecting investors' interests, maintaining market stability and further promoting market norms. According to the system, except for the first day of listing, the trading price of stocks (including A and B shares) and fund securities in one trading day shall not exceed 10% compared with the closing price of the previous trading day, and the entrustment exceeding the price limit shall be invalid.
The main difference between China's price limit system and foreign systems is that after the stock price reaches the price limit, it does not completely stop trading, and the trading within the price limit or the price limit can continue until the close of the day. There are also many reasons for the daily limit.